Equity benchmarks lost another 1 percent today following weakness in rupee
and global growth concerns post further decline in crude oil prices. The Sensex
slipped 254.48 points to 27065.08 and the Nifty fell 71.70 points to 8147.90
while the BSE Midcap and Smallcap indices shed 1 percent each.
About 469 shares have advanced, 1417 shares declined, and 56 shares are
unchanged on the Bombay Stock Exchange.
Anup Bagchi of ICICI Securities feels the overall market trajectory is up
with the macros improving, especially wholesale price index (WPI) coming in at
zero, which is a big positive.
Not perturbed by the slowdown in technology space, he feels every dip is
still a buying opportunity in this market. He expects market to add another
20-25 percent in 2015.
Aluminium major Hindalco Industries topped the selling list in Sensex, down
over 5 percent as Special Court has ordered further investigations in coal scam
case.
Shares of ICICI Bank, ITC, HDFC, Tata Motors, ONGC, State Bank of India,
Sesa Sterlite, Dr Reddy's Labs, Axis Bank and Bharti Airtel slipped 1-3
percent.
However, technology stocks like TCS, Infosys and Wipro gained 0.4-1.3
percent as the Indian rupee breached 63 level for the first time since January
28, down 40 paise to 63.34 a dollar.
Capital goods majors Larsen & Toubro and BHEL climbed 0.4 percent and
1.3 percent, respectively after RBI issued new infrastructure and core sector
project finance restructuring norms. More information please visit this site www.bigprofitbuzz.com
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